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| [February 01, 2013] |
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Rosen Law Firm Announces Investigation of ShangPharma Corporation in Connection with Going Private Transaction - SHP
NEW YORK --(Business Wire)--
The Rosen Law Firm announces that it is investigating potential
securities fraud claims against ShangPharma Corporation (NYSE: SHP)
pertaining to allegations that ShangPharma issued a misleading and
inadequate proxy statement for its going private transaction.
If you would like to join the action please email or call Phillip Kim or
Kevin Chan, toll-free, at 866-767-3653; or email at pkim@rosenlegal.com
or kchan@rosenlegal.com. There
is no cost or obligation to you.
Under the terms of the transaction, proposed by ShangPharma's Chairman
and Chief Executive Officer, Mr. Michael Xin Hui, and Chinese private
equity firm TPG Star Charisma limited, shareholders will receive $9.00
for each American Depository Share ("ADS") or $0.50 for each common
share of ShangPharma they own. The investigation relates to whether
ShangPharma's Board violated Section 14 of the Securities Exchange Act
of 1934 in issuing its proxy statement on January 31, 2013 for approval
of the going private proposal.
If you own ShangPharma ADS and wish to obtain additional information,
you may contact Phillip Kim or Kevin Chan of The Rosen Law Firm toll
free at 866-767-3653 or via e-mail at pkim@rosenlegal.com
or kchan@rosenlegal.com.
The Rosen Law Firm represents investors throughout the globe,
concentrating its practice in securities class actions and shareholder
derivative litigation.
Attorney Advertising. Prior results do not guarantee a similar outcome.
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